Loonie tops 79 cents U.S. The Canadian dollar rose to over 79 cents U.S. last week, its highest level in 14 months, after the Bank of Canada raised a key interest rate for the first time in seven years. The overnight rate was increased one-quarter of a percentage point and now sits at 0.75 per cent.

Lumber prices see 'big jump' after wildfires in B.C. Last week the benchmark price of Western spruce-pine-fir lumber rose by 7.12 percent after wildfires in the B.C. Interior forced some sawmills to temporarily close and evacuate their employees. It is estimated that if mills stay closed for more than a couple of months or are damaged that prices could rise between 15 to 17 per cent.

China's economic growth holds steady despite slowdown fears Economic growth in China has remained steady, according to the latest data, despite fears that it may be cooling. Strong trade numbers and higher than expected consumer spending fueled growth in the latest quarter which at 6.9 per cent was in line with the previous quarter and better than the majority of forecasts.

Wal-Mart will punish its suppliers for delivering early The On-Time, In-Full program will start in August for Wal-Mart suppliers and is part of an on-going initiative to improve product availability in stores. The program focuses on delivery scheduling with suppliers being fined for deliveries that are too early, too late, and/or incomplete.

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